The relative decline of the developed countries' share of world output _________________.
A) will reduce the living standards of the citizens of developed countries.
B) will increase competition for scarce resources and create political instability.
C) reflects the growing economic and industrial strength of developing countries.
D) will decrease prices but also reduce wages in Canada
E) will decrease job opportunities in Canada

Question

Quizplus · Accepted Answer

The relative decline of developed countries' share of world output reflects the growing economic and industrial strength of developing countries. This is due to factors such as globalization, the rise of emerging markets, and advances in technology that allow developing countries to become more competitive. It does not necessarily mean a decrease in living standards or job opportunities in developed countries, although it may lead to increased competition for resources and potentially political instability.

The Relative Decline of the Developed Countries' Share of World